https://www.taxtmi.com/caselaws?id=235719 The High Court upheld the Tribunal's decision, ruling in favor of the assessee. The court determined that the activities undertaken by the assessee qualified as "manufacture" under Section 10B of the Income Tax Act, resulting in a new and distinct product eligible for deductions. Additionally, the court rejected the claim of splitting up, concluding that the firm and the company were separate entities dealing with different products and operating independently. As a result, the assessee was allowed to claim deductions under Section 10B for the relevant assessment years. en-us Tue, 02 Jul 2013 00:00:00 +0530 Sat, 01 Feb 2014 17:49:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=235719 The High Court upheld the Tribunal's decision, ruling in favor of the assessee. The court determined that the activities undertaken by the assessee qualified as "manufacture" under Section 10B of the Income Tax Act, resulting in a new and distinct product eligible for deductions. Additionally, the court rejected the claim of splitting up, concluding that the firm and the company were separate entities dealing with different products and operating independently. As a result, the assessee was allowed to claim deductions under Section 10B for the relevant assessment years. Case-Laws Income Tax Tue, 02 Jul 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=235719